14 Key Points You Must Mind Before Submitting Your Invention Idea

If
you believe your idea can really revolutionize the world, then it is time to
make it public and benefit from it.

While
there are several ways to benefit from your invention ideas, such as
manufacturing it on your own if you can dare invest, licensing it to receive
only the royalty, and selling it to an investor or a capitalist who will return
you with the percentage share as decided, all ways require an inventor to do
proper homework before going ahead with the submission procedure.

However
if you have chalked out plans to submit your invention to a company; you must
not ignore the points as under:

Don’t submit
your invention unless you have completely understood the submission guidelines
of the prospective company.

If you submit
improper documents and agreements with the submission guidelines, the
prospective company will decline your request, proposal or application without
even having a look on the submitted materials.

Read thoroughly
the idea submission guidelines available on the website of company where you
are going to submit your invention idea.

The available
submission guidelines make you clearly understand what type of product the
company where you want to submit your invention idea is looking for.

Continue to
update yourself when the allotted time duration for your invention’s evaluation
and review has come to an end.

The company can
also demand the original signed copies that were not scanned, faxed or emailed.

If the company’s
website does not have submission guidelines, you can call and ask for it.

Make sure if the
prospective company accepts unsolicited invention submission.

A company takes
around 60 days to review your invention submission.

Don’t forget to
completely understand their submission guidelines.

Simply submit
the files and material that the company can accept

It is wise to
send electronic files, through CD-ROM or via e-mail

Request the typical
time for reviewing your idea

No
company wants to jeopardize their interests, they refrain themselves from any
kind of lawsuits.

Therefore,
the main objective of an idea submission policy should be to escape potential
misunderstandings or disputes, and manageably safeguard later launched
corporations’ products that may look similar in appearance.